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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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Latest topics

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Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 EmptyFri Jul 19, 2024 10:30 am by faithhharris

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Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

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Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

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Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

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Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

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Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

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Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

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Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

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5 posters

    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60

    Sriranga
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    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Empty Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60

    Post by Sriranga Fri Jul 18, 2014 9:57 am

    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Aaf10
    http://www.cse.lk/cmt/upload_cse_announcements/7771405655478_.pdf
    kass
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    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Empty Re: Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60

    Post by kass Sun Jul 20, 2014 7:33 pm

    As per the below news it seems a new investor to be brought in through the rights issue.

    http://www.randora.lk/index.php/markets/corporate-news-announcements/item/2927-asia-asset

    I was holding small quantity thinking it would go up with the merger situation hoping the investors will buy existing shares, seems things have gone other way. What are your opinion on this friends? Isn't it time we should start talking about stocks again  Smile 
    slstock
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    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Empty Re: Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60

    Post by slstock Sun Jul 20, 2014 10:06 pm

    Their financial strength is better than SFS etc for small priced shares

    But am not sure this is a pre arranged deal for someone to subscribe to rights ( if ACAP wants to sell them) . I am not sure just a possibility to think about.

    Also this right issues jacks up AAF to 1 requirement of CB to be in CAT A .

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    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Empty Re: Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60

    Post by kass Sun Jul 20, 2014 10:21 pm

    If some new investor needs to become a majority shareholder in the above case they will have to buy the rights from existing shareholders am I correct?
    slstock
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    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Empty Re: Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60

    Post by slstock Sun Jul 20, 2014 10:28 pm

    Technically yes. If you recall in ALUF right issue, the top holder sold rights .



    kass wrote:If some new investor needs to become a majority shareholder in the above case they will have to buy the rights from existing shareholders am I correct?
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    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Empty Re: Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60

    Post by kass Sun Jul 20, 2014 10:34 pm

    slstock wrote:Technically yes. If you recall in ALUF right issue, the top holder sold rights .



    kass wrote:If some new investor needs to become a majority shareholder in the above case they will have to buy the rights from existing shareholders am I correct?

    Ok then do they have to go for a mandatory offer?
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    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Empty Re: Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60

    Post by slstock Sun Jul 20, 2014 11:15 pm

    Hmm. Challenging but interesting questions though we are still on a hypothetical scenario. ( we don;t know what is in store)

    If at any point a new buyer ( or existing) exceeds 30% stake they will have to go for a mandatory offer I believe. As it is 1 for 2 share right issue , even if ACAP sell all their rights will the effective total be 30% ? Don;t know didn't calculate.
    Also I am not sure whether this ever happened in CSE history after a rights issues though.


    . I beleive if someone goes for over 30%
    kass wrote:
    slstock wrote:Technically yes. If you recall in ALUF right issue, the top holder sold rights .



    kass wrote:If some new investor needs to become a majority shareholder in the above case they will have to buy the rights from existing shareholders am I correct?

    Ok then do they have to go for a mandatory offer?
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    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Empty Re: Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60

    Post by Gaudente Mon Jul 21, 2014 2:45 pm

    this piece of junk always failed to pay any dividend and now offers new shares at a laughable discount to market price , significantly above book value (1.36) and almost 15 times its 0.11 EPS.
    I can't see any reason to apply. Evil or Very Mad 
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    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Empty 25-Aug-2014 ASIA ASSET FINANCE - RIGHTS ISSUE DATES

    Post by Sriranga Mon Aug 25, 2014 4:10 pm

    ASIA ASSET FINANCE PLC
    Company ID: - AAF
    Date of Initial Announcement: - 18.Jul.2014
    Proportion: - One (01) new ordinary share for every two (02) existing ordinary shares held
    Issue Price: - Rs. 1.60/-
    Qty Offered: - 279,735,944
    General Meeting / Provisional Allotment: - 17.Sep.2014
    Date EX: - 18.Sep.2014
    Dispatch of Provisional Letter of Allotment: - 22.Sep.2014
    Rights Trading Commences on: - 26.Sep.2014
    Renunciation: - 03.Oct.2014
    Last Date of Acceptance & Payment: - 06.Oct.2014
    Share Transfer Book Open
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    Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60 Empty Re: Asia Asset Finance Rights Issue 1:2 @ Rs. 1.60

    Post by serene Mon Aug 25, 2014 4:49 pm

    Evil or Very Mad Evil or Very Mad Evil or Very Mad

      Current date/time is Sun Sep 01, 2024 6:33 am